East Tennessee Luxury Living

Real Estate Market Not as Dismal as Reported - Upcoming Event Nov. 9th

With mortgage meltdowns, plummeting home prices and soaring foreclosure rates constantly in the news, it’s no wonder people are wary of the housing market these days. But contrary to popular belief, things are not as dismal as they seem, according to Lawrence Yun, chief economist of the National Association of Realtors.

Some of the best perks of owning a home are the tax breaks.  By knowing what expenses you can deduct and how new laws may affect you, this could be the best time to buy or build a home. The Tax Foundation has reported that for the past three decades, Tennessee’s state and local tax burden has consistently ranked among the nation’s lowest.  CNNMoney.com states that Tennessee ranks 48^th with an 8.5% tax burden as a percentage of income. By way of comparison, Vermont is the highest with a 14.1% tax burden.

At East Tennessee Luxury Properties we encourage you to take advantage of year end specials that will allow you to maximize tax savings. On November 9th, we will host a Showcase Open Event at The Enclave at Cove Mountain, Gatlinburg,TN on Sunday, November 9^th from 1– 4 PM. Special incentives and pricing, including discounts up to 25%, will be offered that day on exclusive home sites.

Gatlinburg’s premier, non-rental, gated community offers unparalleled views of the Great Smoky Mountains – views which will never change as the Enclave is surrounded on all four sides by federally protected property.

Fourteen exclusive home sites from $395,000 to $825,000 will be available for tours. Special pricing, including discounts up to 25%, and incentives will also be available the day of the event. Additional information about The Enclave at Cove Mountain

may be found at www.enclaveluxuryhomesites.com or by calling 865-379-8729.

East Tennessee Luxury Properties Teams with RealtyBid.com to launch online auction

East Tennessee Luxury Properties is teaming up with the nation’s leader in Online real estate auctions, RealtyBid.com. "In today’s real estate market realtors need to try new, innovative ways to assist their sellers in selling their properties", says Donna Mitchell, Principal Broker of ETLP.

Continued aggressive public and private sector investment expected in Gatlinburg for 2008

This is great news for investors and second/vacation home buyers alike.  For investors, communities like Gatlinburg Falls, a high-end resort mountain development, continue to bring an excellent return to their investors.  Should you purchase a rental cabin that does not have existing property management in place, companies like Mountain Dream Vacations offer luxury linens and Turkish bath towels…amenities not formerly thought of in reference to Gatlinburg cabin rentals.

 

Another addition to the Gatlinburg community, is the private, gated, non-rental community such as The Enclave at Cove Mountain which is meeting the new demands of luxury buyers in the area.  There is currently a mix of luxury custom and spec homes being built for those who are not interested in a rental-type community. 

Major public enhancements:

• Undergrounding project which includes several future phases, the walkability and aesthetic beauty of Gatlinburg have been heightened by placing all utilities underground and installing new street lighting, sidewalks, crosswalks, planters and benches.

• Enhancements made to the WL Mills Conference Center, in the heart of downtown offering 288,000 square feet of space that can accommodate meetings, conventions, shows, concerts and groups of all sizes.

• $2.74 million upgrade to the Gatlinburg municipal golf course and expansion of holiday lights program which will convert to energy efficient LED lights.

Major private sector enhancements:

The private sector has invested over $150 million in recent months and expected future projects, and the numbers are increasing.  Much of the private development includes high-end resort communities, new or enhanced restaurants and renovated shopping areas which increases both the vacation and investment opportunities the millions of visitors to Gatlinburg.  Gatlinburg officials anticipate continued aggressive investment from both the public and private sectors in 2008.